MIRA
INFORM REPORT
|
Report Date : |
14.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
MANAM FRUIT PRODUCTS PRIVATE LIMITED (w.e.f. 18.03.1993) |
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Formerly Known
As : |
STAR FOODS PRIVATE LIMITED |
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Registered
Office : |
Thandarai Village, Bennangur, Dennani Kotta, Hosur – 635 107 Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
19.02.1986 |
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Com. Reg. No.: |
18-001745 |
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Capital
Investment / Paid-up Capital : |
Rs.15.000 Millions |
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CIN No.: [Company Identification
No.] |
U01134TZ1986PTC001745 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of fruit and vegetable processing industries. |
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No. of Employees
: |
325 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has reported a small position of reserves as well as a low
profit margin during 2013. However, trade relations appear to be fair. Business is active.
Payment terms are reported as slow but correct. The company can be considered for business dealings with some caution. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
State-run banks hired nearly 300000
personnel including more than 94000 officers in the last four years, according
to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office locations.
London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Vishwanath |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9500961444 |
|
Date : |
12.03.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Thandarai Village, Bennangur, Dennani Kotta, Hosur – 635 107
Tamilnadu, India |
|
Tel. No.: |
91-4347-35744 / 91-4344-241030 |
|
Mobile No.: |
91-9500961444 / 9500951444 (Mr. Vishwanath) |
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Fax No.: |
91-4347-35744 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ramasamy Palanivelgounder Mohan |
|
Designation : |
Managing Director |
|
Address : |
8A, Krishnappa Chetty Vilas, Krishnagiri – 635 001, Tamilnadu, India |
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Date of Birth/Age : |
15.04.1951 |
|
Date of Appointment : |
09.06.1989 |
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DIN No.: |
02010979 |
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Name : |
Mr. Gunavathee Mohan |
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Designation : |
Director |
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Address : |
No.27 / 9C, Shanthi Nagar, 3rd Cross, Krishnagiri,
Dharmapuri – 635 001, Tamilnadu, India |
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Date of Birth/Age : |
15.05.1958 |
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Date of Appointment : |
26.04.1991 |
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DIN No.: |
00829766 |
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Name : |
Mr. Anandraj Mohan |
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Designation : |
Director |
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Address : |
No.27 / 9C, Shanthi Nagar, 3rd Cross, Krishnagiri,
Dharmapuri – 635 001, Tamilnadu, India |
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Date of Birth/Age : |
14.08.1979 |
|
Date of Appointment : |
12.08.2013 |
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DIN No.: |
06657596 |
KEY EXECUTIVES
|
Name : |
Mr. Vishwanath |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Ramasamy Palanivelgounder Mohan |
68000 |
45.33 |
|
Gunavathee Mohan |
73000 |
48.67 |
|
Anandraj Mohan |
9000 |
6.00 |
|
Total |
150000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of fruit and vegetable processing industries. |
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Exports : |
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Products : |
Finished Products |
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Countries : |
Singapore |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
USA ·
Italy |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit (Depend) |
GENERAL INFORMATION
|
Suppliers : |
Royal Fruit, Mysore |
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Customers : |
End Users, Others Keventor Agro Limited |
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No. of Employees : |
325 (Approximately) |
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Bankers : |
·
Canara Bank, 112 J. C. Road, Bangalore,
Karnataka, India ·
Axis Bank Limited, Palaniappa Building, 10-77-28,
Bye Pass Road, Hosur – 635 109, Tamilnadu, India |
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Facilities : |
NOTES: Long Term Borrowings: Term Loan from Canara Bank – Secured against fixed assets such as land
and building, plant and machinery and also directors personal guarantee. Short
Term Borrowings: Working capital loan from Canara Bank secured against hypothecation of
present and future stocks, book debts, outstanding monies receivables and
also directors personal guarantee. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B C Vadivel and Company Chartered Accountants |
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Address : |
65/13, First Floor, BKPMM’s Complex, Opposite ‘K’ Theater, Krishnagiri
– 635 001, Tamilnadu, India |
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PAN No.: |
ABOPV4027F |
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Sister Concern : |
Manam Agri Impex |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Millions |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
15.000 |
15.000 |
15.000 |
|
(b) Reserves & Surplus |
8.323 |
7.500 |
6.453 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
23.323 |
22.500 |
21.453 |
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(3)
Non-Current Liabilities |
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|
(a) long-term borrowings |
23.099 |
24.037 |
17.018 |
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(b) Deferred tax liabilities (Net) |
0.780 |
0.799 |
0.832 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
8.100 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current Liabilities (3) |
23.879 |
24.836 |
25.950 |
|
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(4) Current Liabilities |
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|
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|
(a) Short term borrowings |
35.939 |
30.681 |
19.993 |
|
(b) Trade payables |
1.508 |
0.518 |
25.551 |
|
(c) Other current
liabilities |
0.747 |
1.013 |
0.000 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.830 |
|
Total Current Liabilities (4) |
38.194 |
32.212 |
46.374 |
|
|
|
|
|
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TOTAL |
85.396 |
79.548 |
93.777 |
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|
|
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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|
(i) Tangible assets |
18.438 |
21.118 |
23.860 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.014 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.070 |
0.070 |
0.070 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.095 |
0.095 |
0.632 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
18.603 |
21.283 |
24.576 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
41.305 |
33.875 |
56.057 |
|
(c) Trade receivables |
19.352 |
18.118 |
7.759 |
|
(d) Cash and cash
equivalents |
5.390 |
4.991 |
4.695 |
|
(e) Short-term loans and
advances |
0.746 |
1.281 |
0.514 |
|
(f) Other current assets |
0.000 |
0.000 |
0.176 |
|
Total Current Assets |
66.793 |
58.265 |
69.201 |
|
|
|
|
|
|
TOTAL |
85.396 |
79.548 |
93.777 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
179.635 |
119.272 |
147.046 |
|
|
|
Other Income |
0.657 |
0.737 |
0.414 |
|
|
|
TOTAL (A) |
180.292 |
120.009 |
147.460 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
146.917 |
72.619 |
142.807 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(7.431) |
22.182 |
(19.884) |
|
|
|
Employee Benefits Expenses |
5.019 |
3.378 |
3.352 |
|
|
|
Other Expenses |
23.846 |
11.876 |
13.075 |
|
|
|
TOTAL (B) |
168.351 |
110.055 |
139.350 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.941 |
9.954 |
8.110 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.522 |
5.331 |
3.159 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
5.419 |
4.623 |
4.951 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
4.180 |
3.108 |
3.498 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G)
|
1.239 |
1.515 |
1.453 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.416 |
0.468 |
0.449 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
0.823 |
1.047 |
1.004 |
|
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|
|
|
|
|
|
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|
Earnings Per
Share (Rs.) |
5.49 |
NA |
NA |
|
Expected Sales (2013-2014): Rs.250.000 Millions
The above information has been parted by Mr. Vishwanath (Finance
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.46 |
0.87 |
0.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.69 |
1.27 |
0.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.45 |
1.91 |
1.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.07 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.53 |
2.43 |
1.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75 |
1.81 |
1.49 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
15.000 |
15.000 |
15.000 |
|
Reserves & Surplus |
6.453 |
7.500 |
8.323 |
|
Net
worth |
21.453 |
22.500 |
23.323 |
|
|
|
|
|
|
long-term borrowings |
17.018 |
24.037 |
23.099 |
|
Short term borrowings |
19.993 |
30.681 |
35.939 |
|
Total
borrowings |
37.011 |
54.718 |
59.038 |
|
Debt/Equity
ratio |
1.725 |
2.432 |
2.531 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
147.046 |
119.272 |
179.635 |
|
|
|
(18.888) |
50.610 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
147.046 |
119.272 |
179.635 |
|
Profit |
1.004 |
1.047 |
0.823 |
|
|
0.68% |
0.88% |
0.46% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
OPERATIONS:
During the year, the Company has made a turnover of Rs.180.292 Millions including
other income Rs.0.657 Millions as against the turnover of Rs.120.009 Millions
(Earlier year) showing increase of 50.23%
and the Company has earned a profit of Rs.0.823 Millions for the financial year
ended 31st March, 2013 and hopes to achieve a turnover of Rs.250.000 Millions in the coming
yew 2013-14.
FUTURE OUTLOOK:
Directors are confident of
driving the company towards growth in business and profitability in the ensuring
years and efforts are being made to increase the sales which will gear up to
the expected level of operation in the years to come.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
From Others – Long
Term Trade Deposits |
8.300 |
9.300 |
|
Loan from Related
Parties - Directors |
7.636 |
5.173 |
|
|
|
|
|
Total |
15.936 |
14.473 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10437560 |
29/08/2013
* |
92,485,000.00 |
AXIS
BANK LIMITED |
PALANIAPPA
BUILDING, 10-77-28, BYE PASS ROAD, HOSUR, TAMIL NADU - 635109, INDIA |
B87004032 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and machinery
·
Furniture and fixture
·
Electrical installation
·
Intercom systems
·
Pipe fittings
·
Well
·
Lorry
·
Motor car
·
Computer and printer
·
Plastic crates
·
Pallets
·
Typewriter
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.01 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.85.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
29 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.